Anadarko Announces Expiration of Maximum Tender Offer; $1.2 Billion Debt Repurchase Completed.HOUSTON -- Anadarko Petroleum Corp. (NYSE NYSE See: New York Stock Exchange :APC (1) (American Power Conversion Corporation, West Kingston, RI, www.apcc.com) The leading manufacturer of UPS systems and surge suppressors, founded in 1981 by Rodger Dowdell, Neil Rasmussen and Emanual Landsman, three electronic power engineers who had worked at MIT. ) announced the expiration, as of 5:00 p.m. EDT EDT abbr. Eastern Daylight Time EDT Eastern Daylight Time EDT n abbr (US) (= Eastern Daylight Time) → hora de verano de Nueva York EDT yesterday, of the Maximum Tender Offer for up to $450,285,000 aggregate principal amount of securities pursuant to its previously announced cash tender offer, for which $454,675,000 aggregate principal amount of securities were validly tendered and not withdrawn prior to the expiration date Expiration Date The day on which an options or futures contract is no longer valid and, therefore, ceases to exist. Notes: The expiration date for all listed stock options in the U.S. as specified under the terms of the Maximum Tender Offer. As previously announced, $749,715,000 aggregate principal amount of securities in the Any and All Offer, which expired on Monday, Sept. 20, 2004, were validly tendered and accepted for purchase on Sept. 20, 2004. Anadarko elected not to cap the securities tendered in the Maximum Tender Offer, and accepted for purchase all securities validly tendered pursuant to both tender offers for a combined total of $1,204,390,000 aggregate principal amount of securities as listed below.
Percentage
Principal Principal of out-
Amount Amount standing Acceptance
Title of Outstanding tendered amount Priority
Issuer Security (US$) (US$) tendered Level
----------------------------------------------------------------------
Offer for Notes Listed Below: Any and All Offer
Anadarko 7.375% $88,115,000 $46,228,000 52.5% N/A
Canada Debentures
Corporation due May
15, 2006
Anadarko 7.000% $174,010,000 $123,369,000 70.9% N/A
Holding Notes due
Company October
15, 2006
Anadarko 5.375% $650,000,000 $507,403,000 78.1% N/A
Notes due
March 1,
2007
Anadarko 6.750% $116,285,000 $69,715,000 60.0% N/A
Holding Notes due
Company May 15,
2008
Anadarko 7.800% $11,000,000 $3,000,000 27.3% N/A
Canada Debentures
Corporation due July 2,
2008
----------------------------------------------------------------------
Aggregate $1,039,410,000 $749,715,000 72.1%
Any and All
Offer Securities
Percentage
Principal Principal of out-
Amount Amount standing Acceptance
Title of Outstanding tendered amount Priority
Issuer Security (US$) (US$) tendered Level
----------------------------------------------------------------------
Offer for Notes Listed Below: Maximum Tender Offer
Anadarko 7.300% $84,770,000 $32,377,000 38.2% 1
Holding Notes due
Company April 15,
2009
Anadarko 6.125% $400,000,000 $230,252,000 57.6% 2
Notes due
March 15,
2012
Anadarko 5.000% $274,095,000 $192,046,000 70.1% 3
Notes due
October 1,
2012
----------------------------------------------------------------------
Aggregate $758,865,000 $454,675,000 59.9%
Maximum Tender
Offer Securities
ABN AMRO ABN AMRO Algemene Bank Nederland-Amsterdam Roterdam Bank (Dutch bank) Incorporated and J. P. Morgan Securities Inc. served as joint dealer managers, and Global Bondholder Bondholder A firm often has stockholders and bondholders. In a liquidation, the bondholders have first priority. bondholder An individual or institution that owns bonds in a corporation or other organization. Services Corporation served as the depositary DEPOSITARY, contracts. He with whom a deposit is confided or made. 2. It is, the essence of the contract of deposits that it should be gratuitous on the part 'of the depositary. 9 M. R. 470. agent and information agent for the tender offer. Anadarko Petroleum Corporation's mission is to deliver a competitive and sustainable rate of return to shareholders by developing, acquiring and exploring for oil and gas resources vital to the world's health and welfare. As of year-end 2003, Anadarko had 2.5 billion barrels of oil equivalent of reserves, making it one of the world's largest independent exploration and production companies. Anadarko's operational focus extends from the deepwater Gulf of Mexico Noun 1. Gulf of Mexico - an arm of the Atlantic to the south of the United States and to the east of Mexico Golfo de Mexico Atlantic, Atlantic Ocean - the 2nd largest ocean; separates North and South America on the west from Europe and Africa on the east , up through Texas, Louisiana, the Mid-Continent, western U.S. and Canadian Rockies The Canadian Rockies comprise the Canadian segment of the North American Rocky Mountains range. The southern end in Alberta and British Columbia borders Idaho and Montana of the USA. The northern end is at the Liard Plain in British Columbia. and onto the North Slope North Slope, Alaska: see Alaska North Slope. of Alaska. Anadarko also has significant production in Algeria, Venezuela and Qatar. For more information about how Anadarko is bringing excellence to the surface, please visit: http://www.anadarko.com. This news release contains forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities and Exchange Act of 1934. Anadarko believes that its expectations are based on reasonable assumptions. No assurance, however, can be given that its goals will be achieved. A number of factors could cause actual results to differ materially from the projections, anticipated results or other expectations expressed in this release. While Anadarko makes these forward-looking statements in good faith, neither Anadarko nor its management can guarantee that the anticipated future results will be achieved. See Regulatory Matters and Additional Factors Affecting Business in the Management's Discussion and Analysis Management's discussion and analysis (MD&A) A report from management to shareholders that accompanies the firm's financial statements in the annual report. It explains the period's financial results and enables management to discuss topics that may not be apparent in the financial included in the Company's 2003 Annual Report on Form 10-K Form 10-K A report required by the SEC from exchange-listed companies that provides for annual disclosure of certain financial information. Form 10-K See 10-K. . |
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